Sanima General Insurance Increases Net Profit by 53%

Aug 13, 2020 12:00 PM Merolagani

Sanima General  Insurance has increased its net profit by 53.38 percent to Rs 55.6 million in the fourth quarter of the last FY compared to Rs 36.2 million of the corresponding period of the previous FY.

In the review period, the company earned a net insurance premium of Rs 135.5 million. The net insurance premium increased by Rs 60.8 million compared to Rs 74.7 million in the review period of the previous FY.

During the period, the company paid a claim of Rs 498 million compared to Rs 551.1 million of the previous FY.

The company earned Rs 64 million from insurance commission and Rs 16.3 million from investment, loan and other income.

The company with Rs 700 million in paid-up capital has a reserve fund of Rs 49.8 million, an insurance fund of Rs 57.3 million and disaster fund of Rs 5.7 million. In order to meet the minimum paid-up capital of Rs 1 billion, the company is issuing IPO worth Rs 300 million.

During the period, the company has issued 42,383 insurance policies and has earned Rs 352.6 million in total insurance premium.

By the date, the company paid Rs 65.6 million to 807 claims and has an outstanding claim of Rs 77 million to 406 claims million.

comments powered by Disqus

Mirmire Laghubitta to acquire Shrijansheel Laghubitta

Sep 28, 2020 01:45 PM

Mirmire Laghubitta Bittiya Sanstha (MMFDB) is set to acquire Shrijansheel Laghubitta Bittiya Sanstha.

Aarambha Chautari to issue FPO

Sep 27, 2020 12:50 PM